The husband-and-wife duo turned to their supporters after rejecting a Shark Tank supply in 2019. Now, the couple is on observe to achieve ranges that few corporations have achieved within the fairness crowdfunding area.
“We’re democratizing the power to speculate by permitting our neighborhood to personal a bit of the pie and provide you with us,” says Kim Lewis, CEO of CurlMix, on LinkedIn. “That is revolutionary in that no different black-owned magnificence model has ever accomplished this. None. This isn’t a donation. It’s an funding.”
She continues, “By the 12 months 2024, we count on to have $40M in annual income. We plan to create 100 jobs and procure a producing facility in an underserved minority neighborhood, proper right here in Chicago. We plan to construct the primary, publicly commerce black-owned magnificence conglomerate and hopefully be traded on the inventory NYSE in the future, like Procter & Gamble.”
CurlMix Goes From Shark Tank to Fairness Crowdfunding
CurlMix, a DIY subscription field turned pure hair care line, was based in 2015. After a few years of stagnant gross sales, the couple revamped their enterprise mannequin. Twelve months later, they reached $1 million in gross sales. That’s when Kim and Tim offered their compelling pitch to the Sharks, leaving Herjavec prepared to leap in and seize future income. Nevertheless, the couple rejected the supply. They agreed they wouldn’t surrender greater than 15 % of their enterprise.
The couple proves that believing in what you are promoting, understanding your worth, and catering to the wants of your prospects pays off in the long term. Two years after their Shark Tank look, the CurlMix founders are actually elevating tens of millions from fairness crowdfunding.
CurlMix Clients Put money into the Model
“Anytime you might have a neighborhood backing you and they’re hyped about [your brand], what you might be doing can be profitable,” says Kim.